- Analytics
- News and Tools
- Market News
- EUR/USD: Fall below key support at 1.1907/1.1877 to expose the 1.1836/24 zone - Commerzbank
EUR/USD: Fall below key support at 1.1907/1.1877 to expose the 1.1836/24 zone - Commerzbank
FXStreet reports that Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, notes that EUR/USD slips to the 2020-21 uptrend line and 55-week moving average at 1.1907/1.1877. This zone is expected to hold on Friday.
“EUR/USD fell out of bed to below the 61.8% Fibonacci retracement of the March-to-May advance and close to the 2020-2021 uptrend line at 1.1907 which together with the 55-week moving average at 1.1877 is expected to hold the cross today. If not, we would have to allow for the March 9 low and the 78.6% Fibonacci retracement at 1.1836/24 to be reached as well.”
“Minor resistance above the 200-day moving average at 1.1996 comes in at the 1.2052 mid-May low."
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
